Market Rate of Business Space
Rental Rates for Prime Office
| Location | RM | USD |
|---|---|---|
| Alor Setar, Kedah | 19.00 – 27.00 | 4.60 – 6.54 |
| Georgetown, Penang | Georgetown 27.00 – 48.00 Outside Georgetown 36.00 – 48.00 | Georgetown 6.54 – 9.20 Outside Georgetown 8.72 – 11.62 |
| Ipoh, Perak | 16.00 – 24.00 | 4.12 – 5.81 |
| Kuala Lumpur* | 65.00 – 118.00* | 15.74 – 28.57* |
| Petaling Jaya, Selangor | 53.80 – 69.00 | 14.43 – 16.71 |
| Seremban, Negeri Sembilan | 20.00 – 32.00 | 4.84 – 7.75 |
| Melaka | 26.00 – 38.00 | 6.30 – 9.20 |
| Johor Bahru, Johor | Building Age> 5 Years 27.00 – 32.00 Building Age< 5 Years 38.00 – 48.00 | Building Age> 5 Years 6.54 – 7.75 Building Age< 5 Years 9.20 – 11.62 |
| Kuantan, Pahang | 16.00 – 33.00 | 3.87 – 6.54 |
| Kuala Terengganu, Terengganu | 30.00 – 40.00 | 7.26 – 9.69 |
| Kota Bharu, Kelantan | 12.00 – 28.00 | 2.91 – 6.78 |
| Kota Kinabalu, Sabah | 16.00 – 60.00 | 3.87 – 15.74 |
| Kuching, Sarawak | 17.00 – 38.00 | 5.32 – 9.20 |
Notes: The Rental above are gross asking rentals per sq. m per month inclusive of service charge
*Rental excludes Petronas Twin Towers
Source: CBRE | WTW Research, March 2021.
Cost of Industrial Land and Factory Building
Cost of Industrial Land*
| Location | Selling Price per ft2 | Quit Rent per Annum | Annual Assessment Rate (% of property value) |
| Perlis | RM8.00 – 12.00 US$1.93 – 2.91 | RM296.50 per 100m² US$71.81 per 100m² | 8-10 |
| Kedah (PKNK) | RM5.00 – 20.00 US$1.21-4.84 | RM0.80 – 1.60 per m² US$0.19-0.39 per m² | 10 – 12 |
| Kedah (KHTP) | RM45.00 US$10.90 | RM2,000– 3,000 per ha. US$484 – 727 per ha. | 8 |
| Kedah (KSTP) | RM15.00 – RM30.00 US$3.63 -7.27 | N/A | N/A |
| Penang | Island (based on the Valuation) Mainland Penang Science Park and Penang Science Park North RM 50.00 (US$12.11) per sf for 60 year leasehold Batu Kawan industrial Park RM 55.00 US$13.32 per sf for 60 year leasehold | Island : RM 1.29 US$0.31 Per sqm (minimum RM300 US$72.66 Per Lot) Pending Mainland : RM 1.08 (US$0.26) Per sqm | MBPP (Island) 12 MBSP (Mainland) 12 |
| Perak | RM18.00 – 38.00 US$4.36 – 9.20 | RM 0.40 – 0.90 per sqm. US$0.10 – 0.22 per sqm. | 10 – 16 |
| Selangor | RM65.00– 200.00 US$15.74 – 48.44 | RM2,700.00 – 24,000.00 per ha. US$654 – US$5,813 per ha. | 8 – 13 |
| Negeri Sembilan | RM20.00– 70.00 US$4.84 – 16.95 | RM1,976.84 – 7,700.00 per ha. US$478 – 1,864 per ha. | 8 – 13 |
| Melaka | RM30.00 – 59.00 US$7.27 – 14.29 | RM 60 – 240 per 100m² US$14.53 -58.13 per 100m² | Building 0.35 – 0.55 Vacant Land 0.07 –0.5 |
| Johor | RM25.00– 90.00 US$6.05– 21.80 | Light Industry: RM1,600 per ha. US$388 per ha. Medium Industry: RM2,100 per ha. US$509 per ha. Heavy Industry: RM2,400 per ha. US$581 per ha. | 0.33 – 1.0 |
| Pahang | RM7.00– 21.00 US$1.69-5.09 | RM 15.00 – 21.00 per sq meter US$3.63 – 5.09 per sq meter | 7 |
| Terengganu | RM1.95 – 11.50 US$0.47 – 2.79 Depend of land type either complete with infra or not (lease only) | RM8 – 20 per 100m² US$1.94 – 4.84 per 100m² | 5 – 10 |
| Kelantan | RM26.00-27.00 US$6.29-6.53 | RM7,000.00 per ha US$1,695 per ha. | 5 – 12 |
| Sabah* -KKIP -POIC | RM20.50– 28.00 US$4.96-6.78 RM26.00 -RM30.00 US$6.29 –7.26 | RM0.25 p.s.f. US$0.06 p.s.f RM 0.05 p.s.f US$0.01 p.s.f | 9 – 15 |
| Sarawak | RM8.00– 20.00 US$1.93-4.84 | 0.05 per m² (Country Land) 0.07-0.27 per m² (Town and Sub urban Land) | 5.5 – 25.17 |
Cost of Ready-Built Factory*
| Location | Selling Price per ft2 of floor area | Rental per ft2 per month |
| Perlis | RM436.00 US$106 | RM0.75 US$0.18 |
| Kedah (PKNK) | RM50.00 – 70.00 US$12.11 – 16.95 | RM0.50 – 0.70 US$0.12-0.17 |
| Kedah (KHTP) | Not applicable | RM2.00 US$0.48 |
| Kedah (KSTP) | Not applicable | Not applicable |
| Penang | Island RM 180.00 – 440.00 US$43.59 – 107 Mainland RM 150.00 -350.00 US$36.33– 84.76 | Island RM 1.50 – 3.50 US$0.36– 0.85 Mainland 1.00 -2.00 US$0.24– 0.48 |
| Perak | RM80 – 180 US$19.38 – 43.59 | RM0.60 – 1.70 US$0.14 – 0.41 |
| Selangor | RM100.00– 500.00 US$24.21– 121.00 | RM1.50 – 3.00 US$0.36 – 0.73 |
| Negeri Sembilan | RM74.00 – 400.00 US$17.92 – 96.88 | RM0.90 – 1.50 US$0.22 – 0.36 |
| Melaka | RM100 – 200.00 US$24.21 -48.48 | RM1.00– 2.00 US$0.24 – 0.48 |
| Johor | RM140.00 – 400.00 US$33.90-96.88 | RM1.20 – 3.00 US$0.29 – 0.73 |
| Pahang | RM50.00 – 127.00 US$12.11 – 30.76 | RM0.40 – 0.60 US$0.10 – 0.15 |
| Terengganu | Depends on the market | Depends on the market |
| Kelantan | RM100.00-150.00 US$24.21-36.33 | RM0.75 – 0.85 US$0.18 – 0.21 |
| Sabah* -KKIP | Detached RM1.9 mil -4 mil US$460,160-968,758 Semi Detached RM 1.4mil -1.6 mil US$330,065-387,503 Cluster RM 700,000 – 900,000 US$169,533 – 217,970 | Ready Built factory Phase 5 (coming soon) |
| Sabah* -POIC | (Only for rent) | RM1.25 p.s.f US$0.30 (15,000 p.s.f – 3 units available) |
| Sarawak | RM 49.00 per ft² US$11.87 (based on MINTRED’S current rental and selling price) | RM 0.25 per ft² US$0.06 (based on MINTRED’S current rental and selling price) |
Source: Costs of Doing Business, MIDA
